Posted on 04/03/2024 6:04:43 AM PDT by Kaiser8408a
Housing in the US under Bidenomics is simply unaffordable. With the massive expansion of M2 Money supply under Biden thanks to Covid and Bidenomics, home prices are up 39.2% and mortgage demand keeps falling like a paralyzed falcon. We are truly on the highway to hell under Bidenomics in terms of housing affordability.
Mortgage applications decreased 0.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 29, 2024.
The Market Composite Index, a measure of mortgage loan application volume, decreased 0.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 0.1 percent compared with the previous week. The seasonally adjusted Purchase Index decreased 0.1 percent from one week earlier. The unadjusted Purchase Index increased 1 percent compared with the previous week and was 13 percent lower than the same week one year ago.
The Refinance Index decreased 2 percent from the previous week and was 5 percent lower than the same week one year ago.
What a mess! With M2 Money up 8.4% under Biden (green line), home prices are up a staggering 39.2% under Sheriff Joe and his deputy Fed chair Jerome Powell.
Thanks O’Biden! Although Biden is the figurehead, Obama and his team are still running The White House. Regardess of whether it is Biden or Obama (or Soros/World Economic Forum) calling the shots, the US housing market is on a highway to hell.
(Excerpt) Read more at confoundedinterest.net ...
My little love shack has appreciated from $180K to $310K in one tax year.
Here’s the problem as I see it. Americans have become so incredibly uninformed, and so lack critical thinking skills that when the admin and their media allies tell the public things are great, and any problems are the result of Trump and MAGA types existing, they believe it.
10 year bond soaring toward 4.5%. Don’t see how Fed can cut rates 3 times in 2024 as they have stated. So now they are saying no need to reduce inflation rate to 2%. 3% will suffice. Moving the goal posts. Changing the rules. All in an effort to re-elect the world’s most famous Alzheimer’s patient.
Bidenomics aka the plan to destroy the Middle Class.
Me neither
“Don’t see how Fed can cut rates 3 times in 2024 as they have stated.”
They have never “stated” there would be any cuts in 2024. They have stated they are watching the data and will react to it as needed. Observers and wishers keep putting words in the FED’s mouth that have not been said.
Yesterday Cleveland Fed President. Loretta Mester said,”She still expects 3 rate cuts in 2024.” Close enough for me.
Home prices up 40% I’ll take it lol
Stupidly I listened to Dave Ramsey and stayed out of debt. Had I gobbled up every scrap of run down property where I use to live, using debt, I would be a multi millionaire. Housing costs have exploded. Especially since Californicators have invaded with kung flu remote work.
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